Fidelis Capital Partners LLC Purchases 1,272 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fidelis Capital Partners LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,110 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,272 shares during the period. Broadcom comprises approximately 0.9% of Fidelis Capital Partners LLC’s portfolio, making the stock its 25th biggest holding. Fidelis Capital Partners LLC’s holdings in Broadcom were worth $7,827,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Valmark Advisers Inc. lifted its stake in shares of Broadcom by 846.4% in the 3rd quarter. Valmark Advisers Inc. now owns 6,918 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after acquiring an additional 6,187 shares during the last quarter. Bay Rivers Group lifted its position in Broadcom by 895.1% in the third quarter. Bay Rivers Group now owns 66,151 shares of the semiconductor manufacturer’s stock valued at $11,411,000 after purchasing an additional 59,503 shares during the last quarter. Andina Capital Management LLC boosted its stake in shares of Broadcom by 1,018.4% during the third quarter. Andina Capital Management LLC now owns 6,017 shares of the semiconductor manufacturer’s stock valued at $1,038,000 after purchasing an additional 5,479 shares during the period. Aletheian Wealth Advisors LLC grew its holdings in shares of Broadcom by 903.2% in the third quarter. Aletheian Wealth Advisors LLC now owns 4,374 shares of the semiconductor manufacturer’s stock worth $755,000 after purchasing an additional 3,938 shares during the last quarter. Finally, Davidson Capital Management Inc. increased its stake in shares of Broadcom by 893.0% in the third quarter. Davidson Capital Management Inc. now owns 19,512 shares of the semiconductor manufacturer’s stock worth $3,366,000 after buying an additional 17,547 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. UBS Group reduced their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, Oppenheimer dropped their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $168.92 on Friday. The business has a fifty day moving average price of $168.94 and a 200-day moving average price of $156.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $788.95 billion, a PE ratio of 146.76, a PEG ratio of 2.84 and a beta of 1.17. Broadcom Inc. has a 1-year low of $86.00 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.26%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.